Cypherpunk Technologies (NASDAQ:CYPH) Stock Price Up 5.5% – Here’s Why

Shares of Cypherpunk Technologies (NASDAQ:CYPH) shot up 5.5% during mid-day trading on Tuesday . The stock traded as high as $0.8859 and last traded at $0.8706. 4,554,145 shares were traded during trading, an increase of 32% from the average session volume of 3,463,134 shares. The stock had previously closed at $0.8249.

Analysts Set New Price Targets

Several research firms have weighed in on CYPH. Wall Street Zen raised Cypherpunk Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cypherpunk Technologies in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $1.25.

Cypherpunk Technologies Stock Up 5.5%

The stock has a fifty day moving average price of $1.29 and a two-hundred day moving average price of $0.78. The company has a market capitalization of $36.08 million, a price-to-earnings ratio of -0.71 and a beta of -0.19.

Cypherpunk Technologies (NASDAQ:CYPH) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.16. The company had revenue of $0.21 million for the quarter. As a group, research analysts forecast that Cypherpunk Technologies will post -1.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cypherpunk Technologies

An institutional investor recently raised its position in Cypherpunk Technologies stock. Acadian Asset Management LLC boosted its holdings in Cypherpunk Technologies (NASDAQ:CYPH) by 470.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,280,531 shares of the company’s stock after buying an additional 1,056,047 shares during the period. Acadian Asset Management LLC owned 3.09% of Cypherpunk Technologies worth $389,000 at the end of the most recent reporting period. Institutional investors own 30.46% of the company’s stock.

Cypherpunk Technologies Company Profile

Cypherpunk Technologies Inc, previously known as Leap Therapeutics, Inc, is a company developing novel therapies for patients with cancer and implementing a digital asset treasury strategy focused on Zcash. The company’s research platform centers on modulating the tumor microenvironment to enhance anti-tumor immune responses. Cypherpunk’s proprietary pipeline includes DKN-01, a monoclonal antibody designed to neutralize Dickkopf-1 (DKK1), a protein implicated in tumor growth and immune evasion.

DKN-01 is being evaluated both as a monotherapy and in combination with checkpoint inhibitors such as pembrolizumab across multiple solid tumor indications, including gastroesophageal, pancreatic and other advanced malignancies.